Planning, Property and Development Economic Development a - - PowerPoint PPT Presentation

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a

Planning, Property and Development – Economic Development

2020 T 2020 To 2023 Pr 2023 Preliminary Operating and Ca Capital Budgets

Standing Policy Committee on Innovation and Economic Development March 16, 2020

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Agenda

1. Strategic Objectives, Priorities and Performance Measurement 2. Preliminary Operating and Capital Budgets – Summary 3. Operating Budget

– Operating Budget (Departmental or Service Based Basis) – Year over Year Variance Explanations – Operating Budget Options and Reductions – Salaries and benefits, FTEs, and vacancy management – Other Important Operating Budget Information (not applicable)

4. Capital Budget (not applicable)

– Capital Investment Plan - Authorization – Capital Budget Options and Reductions – Capital Forecast to Submission Reconciliation – Other Important Capital Budget Information

5. Operating and Capital Budget Referrals (not applicable) 6. Questions

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Strategic Objectives, Priorities and Performance Measurement

Strategic Objectives and Key Priorities

As presented to Standing Policy on Innovation and Economic Development, November 18, 2019 Source: 2020 Community Trends and Performance Report, Volume 1

• Build a strong economic climate for Winnipeg.
• Facilitate strategic economic development incentives through delivery of Council-approved programs that demonstrate a

return on investment to Winnipeg.

• Identify opportunities to respond to critical success factors for industries wanting to do business in Winnipeg through

existing City services, incentives and discount programs.

• Capitalize on opportunities to establish inter-governmental and public/private partnerships.
• Identify and recommend, policies, processes and resources required to support Manitoba's economic development

strategy and new tax increment financing (TIF) framework.

Source: 2020 Community Trends and Performance Report, Volume 1

• Partner with the Province of Manitoba in creation of business development programs and initiatives.
• Support partner agencies including Economic Development Winnipeg and Yes! Winnipeg in business attraction, expansion

and retention.

• Support CentreVenture Development Corporation in strategic development initiatives, programs and development

projects in the downtown.

• Coordinate interdepartmental responses to confidential and high profile strategic economic incentive requests to attract

new business.

• Report and make recommendations to Council regarding economic development initiatives and tax increment financing

programs to support local business and economic growth and prosperity of Winnipeg.

• Administer Council approved tax increment financing (TIF) programs.

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Performance Measurement

As presented to Standing Policy Committee on Innovation and Economic Development, November 18, 2019

• Support partner agencies including Economic Development Winnipeg and Yes!

Winnipeg in business attraction, expansion and retention.

• Coordinate interdepartmental responses to high profile strategic economic

incentive requests to attract new business.

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Strategic Objectives, Priorities and Performance Measurement

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2020 Preliminary Operating and Capital Budgets

1.Operating Budget – Annual year over year budget growth rates (%) based on 2019 expenditures

4-Year Average EPC Target to balance the budget 0% Operating Options Presented to Committee in Fall 2019 *

• 3%

Preliminary Budget

• 3%

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2020 Preliminary Operating and Capital Budgets Reserve Balance Summary

Financial Projections ($000's)

2019 Forecast 2020 Budget 2021 Proj 2022 Proj 2023 Proj

Economic Development Investment Reserve 3,172 3,290 3,324 3,326 3,360 Destination Marketing Reserve 11,254 8,802 8,374 8,042 8,745

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Operating Budget (Departmental)

2018 Actual 2019 Budget 2020 Preliminary Budget Year over Year Increase / (Decrease) % Exp. No. 2021 Projection 2022 Projection 2023 Projection 4 year Average % Change GOVERNMENT GRANTS

• - - -
• - -
• 1.806
• (1.806)
• - -
• 1.806
• (1.806)
• 100%

1

• - -
• 25%

SALARIES & BENEFITS 0.299 0.351 0.236 (0.115) 0.242 0.246 0.251 0.003 0.018 0.018 - 0.018 0.018 0.018 MATS PARTS & SUPPLIES

• - - -
• - -
• - - -
• - -

GRANTS, TRANSFERS & OTHER 0.377 0.377 0.377 - 0.377 0.377 0.377 (0.115)

• - -
• - -

0.564 0.746 0.631 (0.115)

• 15%

0.637 0.641 0.646

• 4%
• - - -
• - -

TRANSFER TO CAPITAL

• - - -
• - -

0.564 0.746 0.631 (0.115)

• 15%

2 0.637 0.641 0.646

• 4%

0.564 (1.060) 0.631 1.691 0.637 0.641 0.646

• 15%

1% 1% 1%

• 3%
• 15%

1% 1% 1%

• 3%

Total Expeditures Year over Year % change 2020 Preliminary Operating Budget and 2021 to 2023 Budget Projections in millions of $ Mill Rate Contribution / (Support) * RECOVERIES SERVICES ASSETS & PURCHASES TOTAL OPERATIONAL EXPENDITURES TOTAL REVENUE DEBT & FINANCE CHARGES TOTAL EXPENDITURES SERVICE AND OTHER Total Operational Expenditures (before capital related expenditures) Year over Year % Change

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Year over Year Variance Explanations

2020 Preliminary Budget 2021 Budget Projection 2022 Budget Projection 2023 Budget Projection 1) Revenue change due to the following: Decrease in transfer from Economic Development Investment Reserve (1.806) Miscellaneous adjustments Net Revenue Change (1.806) $

• $
• $
• $

2) Expenditure change due to the following: (Decrease) / increase in salaries and benefits due to collective agreements net of FTE reductions (0.115) 0.006 0.004 0.005 Miscellaneous adjustments Net Expenditure Change (0.115) $ 0.006 $ 0.004 $ 0.005 $ Year over year increase / (decrease) (in millions)

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Operating Budget Options

Options Presented to SPC / Board vs. Preliminary Budget

Total 4-year Proposal Total 4-year Preliminary Budget Explanation

• a. Eliminate position: Economic Development Administrator

(0.525) (0.525) Reduction to meet required four-year 0% increase in expenditure budget Total Adjustments (0.525) (0.525)

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Salary Budget and Full Time Equivalents (FTEs) / Vacancy Management

2019 Adopted Budget 2020 Preliminary Budget Increase / (Decrease) 2021 Budget Projection 2022 Budget Projection 2023 Budget Projection

Full Time Equivalents (number of FTEs) 3.00 2.00 (1.00) 2.00 2.00 2.00 Salaries & Benefits (in millions of $) 0.351 $ 0.236 $ (0.115) $ 0.242 $ 0.246 $ 0.251 $ Vacancy Management included in Salaries & Benefits (in millions of $) (0.018) $ (0.014) $ 0.004 $ (0.015) $ (0.015) $ (0.016) $ FTE Reductions by 2023 In Comparison to 2019 Budgeted FTEs 2023 Vacant Positions 1.00 Filled Positions

• Total FTE reductions

1.00

2020 - 2023 Preliminary Operating Budget

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Questions?